InvestorsHub Logo
icon url

Sexton O Blake

01/07/04 12:46 AM

#7127 RE: Frank Pembleton #6962

Ameritrade Canada.. and other oddities..

Just wondering if you belong to such a beast already or just thinking about it?

I am wonderng how to get money in - from what I gather I can WIRE the money from TD to "them". Except TD Waterhouse said they cannot wire money straight to the Brokerage but instead my wire to the bank. He mentioned a brokerage firm and they used Bank of Montreal (until he said that I had no idea of that brokerage-banking relationship). To get money to the brokerage the money would be wired to the bank and then I guess deposited in my account at the brokerage.

Talk about crock.

OT or perhaps on topic: I ended up setting up an account at ING a few years ago - the theory was I was saving "myyyyyy money". But in fact I actually use the account more for pushing money around. I have three accounts linked - a Royal Bank US; My TD and another Royal Bank CAN. I can then go to ING and move money from "TD" into ING and then from there into ROYAL - saving the time to go to the bank and the hassle with checks. Likewise TD sends me a US$ check - I deposit at ING US account and then I can login and move the money to my Royal Bank US -- my TD US credit card automatically debits my Royal Bank US account (for purchases). I would have a TD US bank account at TD Canada Trust except they changed their plans and want like $4US FEE each month. Royal Bank US pays no interest but also no fees.

But for some anile reason:
(A) ING puts a hold on Canadian checks - 7days and a ludicrous speed of 30days for US (!!). if in a hurry that is useless but typically my needs are less time sensitive and I get "ok" interest on the money from the day of the deposit - (we are talking small feed here)
(B) ING for whatever reason allows only THREE linked accounts. I said "but it is all electronic". What a crock of seagulls!
(C) I was hoping - I could someone create a link from ING to the Ameritrade or something. But alas no - since I would have to have a bank account with THEIR bank. (plus the 30day hold).

The things I do for England...



$oB - Son of a Banker..